Category: Featured

Every year, countless professionals head off to conferences or conventions ready to learn, network, and maybe collect more than a few free pens to take home! But along with the insights and connections, many wonder: Can I deduct as business expense the costs of attending these events?  For the Internal Revenue Service (IRS), you can… Continue reading Conference and Convention Costs: Deductible or Not? 

In general, self-employed residents of the state of California (CA) or non-residents that receive income from a source in CA of at least $500 ($250 if married/RDP filing separately) in a year are required to make quarterly estimated CA state taxes.  California Quarterly Estimated Tax Deadlines   The due dates for California state estimated tax payments… Continue reading How to Pay California State Estimated Taxes: A Guide for Self-Employed Individuals  

When you pay yourselves through self-employment—as independent contractors, locum tenens, CRNAs, freelancers, gig workers, or small business owners, you carry the responsibility of managing your tax obligations regardless of whether you opted to run your trade under sole proprietorship, limited liability company (LLC), or S Corporation.   While taxpayers focus on their federal responsibilities, state taxes… Continue reading How to Pay State Taxes: A Guide for Self-Employed Individuals 

Paying estimated tax is a proactive way to stay ahead of your taxes, especially if you’re self-employed—independent contractors, locum tenens, CRNAs, freelancers, gig workers, and small business owners. Since no one withholds taxes from your income, it is your responsibility to make estimated tax payments in quarterly periods throughout the year. Doing so helps you… Continue reading How to Pay Fderal Estimated Taxes via IRS Direct Pay (Bank Account) 

Federal income taxes are paid either through paycheck withholding or estimated tax payments. If you end up paying more taxes than what you owed, the IRS returns to you the extra amount back in the form of a tax refund.  If you’ve already filed your return and expect a refund, here are some helpful things… Continue reading What to Expect When Expecting an IRS Refund 

Receiving a letter from the Internal Revenue Service (IRS) can be unsettling, especially if you don’t know why you got one or what to do next. However, getting IRS notices doesn’t automatically mean problem, many IRS notices can be addressed quickly if you understand their purpose.   Why the IRS Sends Notices or Letters  The IRS… Continue reading IRS Notices: What to Do When You Get One 

Tax time can get overwhelming, especially if you’re a self-employed individual trying to figure out how your business fits into the tax system. But good news to all self-employed individuals—such as independent contractors, locum tenens, CRNAs, freelancers, gig workers, and small business owners—filing and paying taxes is easier and simpler than you think once you… Continue reading Pass-Through Entities: Who Actually Pays the Taxes? 

An S corporation is a popular business structure for many self-employed individuals—locum tenens, CRNAs, independent contractors, or small business owners because of its tax advantages particularly for lowering self-employment taxes. However, when it comes to deducting vehicle expenses, there are rules that must be observed depending on who owns the vehicle.  Personal Vehicles Used in… Continue reading S Corporation: Deducting Business Use of Vehicles 

For many self-employed individuals—locum tenens, CRNAs, independent contractors, or small business owners, electing an S corporation is a smart move bringing in benefits to their business particularly when it comes to lowering their self-employment taxes. However, deducting health insurance premiums for S corp owners can be complicated since there are certain IRS rules and limitations… Continue reading S Corp Owners: What to Know About Health Insurance Deduction 

Small business owners and self-employed individuals—such as locum tenens, CRNAs, freelancers, gig workers, and independent contractors—are typically familiar with the 1099 form, which they receive each January for services rendered in the previous year. But chances are they will also need to file a 1099 form to the Internal Revenue Service (IRS) if they hired… Continue reading Self-Employed, Am I Required to File a 1099 Form?